Tuesday, November 13, 2007

Business Relationships: Develop the Essential Components and Dodge the Hitch Points


EXECUTIVE INTELLIGENT E-LETTER


Business Relationships: Develop the Essential Components and Dodge the Hitch Points


February 22, 2008, Number 15



In This Issue:

*
Business News
- negotiation skills
- coaching resource
*Coaching Article
-Business Relationships: Develop the Essential Components and Dodge the Hitch Points
*What's New

- employee selection

- upcoming presentations


Business News

Negotiation Skills
A few months back I attended an excellent workshop on negotiating! Chad Jewell is an expert negotiator who shared his wisdom with some local business associates. I was one of the fortunate dozen or so who got to attend an afternoon training and what I learned was invaluable! Getting our wants and needs met, with a win for all parties, is a finely-tuned skill that benefits us situationally and mentally. Who better to assist a business owner when looking for their office space than an expert negotiator! Chad and his team exclusively represent tenants in this process. Check them out at http://www.austinofficespace.com/

Coaching Resource
I have known Ted Middelberg for a couple of years now and recently he and I met to discuss forming a professional coaching consultative group. Like myself, Ted is an expert in the coaching industry. He is the president of Systemic Leadership LLC, an Austin-based company focused on coaching executives and leaders at all levels. Ted's judgment and wisdom have been built on 20 years of managerial and executive level responsibilities, followed by another 10 years focused explicitly on helping leaders drive successful results. Weaving this together with his formal training in group dynamics and coaching gives Ted the desire, knowledge and
skills to offer more for his clients than ever before. Middelberg has a BA degree in Economics from Brown University, an MBA in Finance from The Ohio State University and an Ed.D. in Adult Education, Human Resource Development and Leadership from The University of Texas at Austin. He is also a member of the International Federation of Coaches and a certified executive coach. You can reach Ted at 512-653-4757 or ted@systemicleadership.com.


Coaching Article

Business Relationships: Develop the Essential Components and Dodge the Hitch Points
Clients and entrepreneurs I speak with are often driven and motivated to make a decision when they're thinking about establishing a business relationship. Whether you're looking at a partner, a vendor, or client it is essential to rein in the urge to act, refrain from an emotional decision, and withhold a hasty response. Don't only give yourself room, make it a priority to take the time, care, and ethical consideration that is a must in developing positive business relationships. It is during the development of these relationships where business leaders make initial critical errors by not recognizing the warning signs of hitch points that can tell them if a business relationship will or will not be positive. If you're not already convinced about how important it is to get into business relationships that are positive, just think about the nightmare client, vendor, or partner you've had in the past. How much time and energy did that stressful relationship cost you?

Here are some steps to assist you in developing positive business relationships.... Take time to build this relationship:
  • to learn their purpose
  • to learn what they can contribute and their shortcomings
Focus on quality and integrity:
  • maintain the level of work you currently produce and are proud of
  • maintain the credibility you have established for yourself and your company
Hitch points indicate that it is not wise to enter into a business relationship because the risks of it turning into a negative relationship are too high. Two primary hitch points include:
  • the person's ethics or values are in conflict with yours
  • there is a lack of balance in the power
Developing business relationships that are based on mutual respect, open communication, and clarity of purpose and focus will build trust, cooperation, enjoyable work, and a long-term positive and fruitful relationship.


What's New
Employee Selection
At Executive Intelligent Coaching, we recently expanded our services to include assisting companies in their hiring the right people, for the right positions. We come in during the second or third stage of the selection process to interview the hiring person, interview the candidates, and administer and report assessment results. With our expertise and assessments, we give you the confidence that you're hiring the right person. It was in Jim Collins' Good to Great research, which convincingly revealed that great companies have the right people in the right positions.

Upcoming Presentations
The beginning of March offers Austin's entrepreneurs and business people a smörgåsbord of informational and support resources right at our fingertips!
RISE
, a Relationship and Information Series for Entrepreneurs, offers numerous free presentations each day, held across the city, March 4th through 6th. Register at: http://www.riseaustin.org/Schedual/Day1.aspx
SXSW Interactive
hosts countless panels at the Austin Convention Center March 7th through 11th. Register at: http://2008.sxsw.com/register_to_attend/

Nancy's RISE presentation

What:
Creating Executive Teams
When:
Tues. March 4th 11:00 am - 12:30 pm
Where:
Texas State Capitol

Nancy's panel participation

What:
Bootstrapping through Entrepreneur Collaboration Networks
When:
Mon. March 10th 5:00-6:00 pm
Where: Austin Convention Center


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Copyright, 2008 Executive Intelligent Coaching

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